City Council

7. ECONOMIC AND FINANCIAL UPDATE FOR THE SECOND QUARTER OF FISCAL YEAR 2024-25 AND\nMIDYEAR BUDGET REVIEW – 1) Receive a report on the economic and financial update for the second\nquarter of fiscal year 2024-25 and provide direction as appropriate; and\n2) Receive a report on the results of the fiscal year 2024-25 mid-year budget review; and\n3) Adoption of a City Council resolution authorizing the City Manager or designee to appropriate\n$1,214,000 from the General Fund, $1,260,294 from the Fleet Replacement Fund, $466,860 from the\nHousing Trust Fund, $150,000 from the Stormwater Enterprise Fund, $55,000 from the Public Facilities\nFee Fund, and $24,038 from the Wastewater Operating Fund to the Fiscal Year 2024-25 Operating\nBudget for various operational needs; and\n4) Adoption of a Carlsbad Municipal Water District Board of Directors resolution authorizing the\nExecutive Manager or designee to appropriate $428,179 from the Potable Water Operating Fund,\n$504,165 from the Recycled Water Operating Fund and $504,165 from the Recycled Water\nReplacement Fund for various operational needs. (Staff contact: Zach Korach and Matt Sanford,\nAdministrative Services)\nCity Manager’s Recommendation: Receive the reports and adopt the resolutions.